Zeo Energy Corporation ( ZEO ) shares are trading higher Thursday following the announcement of a definitive agreement to acquire Heliogen, Inc. ( HLGN ) in an all-stock deal valued at approximately $10 million.

What To Know: Under the terms of the agreement, Zeo will acquire all outstanding equity of Heliogen ( HLGN ), a company focused on long-duration clean energy solutions, including thermal storage technologies. The transaction is expected to close in the third quarter of 2025, pending customary closing conditions and shareholder approval from Heliogen ( HLGN ).

Zeo plans to integrate Heliogen's ( HLGN ) technology and expertise to create a new division targeting power-hungry sectors like AI and cloud data centers.

Management emphasized that the deal is expected to enhance Zeo's financial flexibility, broaden market access and streamline operations. With a financing arm already providing over $44 million in clean energy funding, Zeo sees this acquisition as a way to accelerate its growth in the solar and storage space.

ZEO Price Action: Zeo shares were up 100% at $3.17 at the time of writing, according to Benzinga Pro.

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